Business today

HOUSTON  Enron Corp.'s top leaders will all be tried in Houston on criminal charges connected to the scandal-ridden company's 2001 collapse, a federal judge ruled Wednesday.

U.S. District Judge Sim Lake's decision denies claims from company founder Kenneth Lay, former CEO Jeff Skilling and former top accountant Richard Causey that they couldn't get a fair trial on their home turf.

Skilling made the initial request to have the trial moved, citing a survey of local residents conducted on his behalf that said too many potential jurors associate his name with words like "snake" and "evil." Alternate sites suggested were Atlanta, Denver, New Orleans or Phoenix.

Prosecutors responded that two Houston-area juries already had considered Enron-related cases and returned reasonable verdicts.

Maytag no longer will sell in Best Buy stores

DES MOINES, Iowa  Maytag Corp. said Wednesday it would no longer sell Maytag-branded appliances in Best Buy Co. retail stores, where sales have declined significantly in recent years.

"At this time, it does not make sense to continue selling our major appliances at Best Buy," said Ralph F. Hake, Maytag chairman and CEO, in a statement.

In 2004, white goods sales at the retailer represented about 1 percent of Maytag's consolidated revenue. The discontinuation will become effective later in the first quarter 2005, the company said.

Compiled from wire reports

Maytag will continue to sell its Hoover floor care products at Best Buy.

Best Buy spokesman Brian Lucas said the retailer reached a mutual decision with Maytag to stop selling its appliances which included refrigerators, kitchen ranges and laundry equipment.

He said Best Buy's customers are focused heavily on style and innovation and have responded to other brands such as LG, Siemens and Samsung.

"In the past year we've made a real effort in Best Buy to expand our appliances and bring in some new vendors that really kind of meet the needs of our core customer," Lucas said.

He said the driving force for laundry purchases, for example, has been energy efficiency and front-loading equipment.

The announcement came a day after Maytag said two senior executives would leave the company on Jan. 31 and their positions would be eliminated.

Maytag stock fell $1.94, or 10.4 percent, to close at $16.73 in Wednesday trading on the New York Stock Exchange, where Best Buy shares fell 38 cents to close at $57.35.

William L. Beer, a 31-year veteran of Newton-based Maytag, plans to pursue personal and other professional opportunities, while Thomas A. Briatico will retire from Maytag after a 30-year career with the company, a statement issued Tuesday evening said.

Both were named executive vice presidents in June 2004 as the company implemented a major restructuring plan, which consolidated its Hoover, Maytag Appliances and headquarters divisions.

"Our restructuring is now complete and both of these highly capable executives have decided to pursue the next phase of their lives," Hake said.

Beer, 52, will be paid a $344,300 as part of a separation agreement with the company and Briatico will get $300,000, according to documents filed with the Securities and Exchange Commission. The sums equal their annual base salary.

Beer will be retained as a consultant for 12 months at a fee of $100,000 for up to 40 hours a month, documents said. He also will receive an allowance for expenses, travel and an office.

Briatico, 57, will be paid $50,000 as a consultant for the remainder of this year and the company will reimburse him up to $5,000 for a home in North Canton, Ohio, if the home sells for less than his purchase price.

Both have pension funds with the company and will retain company stock acquired through incentive programs.

Maytag, the nation's third largest appliance maker, sells appliances under several brands including Maytag, Hoover and Amana.